We study the combined effects of spin transfer torque, voltage modulation of interlayer exchange coupling and magnetic anisotropy on the switching behavior of perpendicular magnetic tunnel junctions (p-MTJs). In asymmetric p-MTJs, a linear-in-voltage
dependence of interlayer exchange coupling enables the effective perpendicular anisotropy barrier to be lowered for both voltage polarities. This mechanism is shown to reduce the critical switching current and effective activation energy. Finally, we analyze the possibility of having switching via interlayer exchange coupling only.
